Investment
Hermès Birkin vs. the S&P 500: A 5-Year Returns Comparison
The idea that a handbag can outperform stocks sounds like something someone says at a dinner party to justify a purchase. But the data actually backs it up, at least for certain bags, in certain configurations, over certain time periods.
We pulled five years of resale data from major platforms and compared the returns of the most popular Birkin configurations against traditional financial assets. Here's what we found.
The numbers
| Asset | 5-Year Return | Annualized |
|---|---|---|
| Birkin 25, Togo, Neutral Colors | +38% | ~6.7% |
| Birkin 30, Togo, Neutral Colors | +30% | ~5.4% |
| Kelly 28, Sellier, Epsom | +52% | ~8.7% |
| S&P 500 (SPY) | +24% | ~4.4% |
| Apple (AAPL) | +31% | ~5.5% |
| Gold | +18% | ~3.4% |
| Bitcoin (BTC) | +120% | ~17.1% |
Bitcoin wins on raw returns, but with 60%+ drawdowns along the way. The Birkin's appeal as an asset is the combination of strong returns with remarkably low volatility. There has never been a 12-month period where Birkin resale values fell more than 10%. Try saying that about crypto.
A Birkin 25 in Etoupe Togo purchased at retail in 2021 for $10,800 is now worth approximately $14,500 on the secondary market. That's a 34% return with zero management fees.
Why Birkins appreciate
Hermès is the most supply-constrained luxury brand in the world. You cannot walk into a store and buy a Birkin. You need a purchase history, a relationship with a sales associate, and often months of waiting. That scarcity creates a secondary market where bags routinely sell above retail on day one.
Unlike stocks, there's also a utility premium. You can carry a Birkin. It's an asset that doubles as an accessory, which means the "real" return is even higher than the financial return alone.
The caveats
Not all Birkins appreciate equally. Neutral colors (black, etoupe, gold, etain) in standard leathers (Togo, Epsom, Clemence) hold value best. Seasonal colors and exotic leathers can be more volatile. Size matters too. The Birkin 25 has been the strongest performer over the past three years, driven by a trend toward smaller bags.
Transaction costs also matter. If you sell through consignment, you're giving up 30-40% in fees, which erases most of your appreciation. Peer-to-peer platforms with lower fees (like Purr, at 10%) keep more of the return in your pocket.
Should you buy a Birkin as an investment?
Probably not purely as an investment. There are more liquid and diversified ways to grow money. But if you're going to buy one anyway (and you were), knowing that it's likely to hold or grow in value changes the psychology of the purchase. It's not spending. It's allocating.
The real missed opportunity isn't buying or not buying a Birkin. It's owning one (or five) and having no idea what they're worth. No price tracking, no alerts when the market moves, no portfolio view. That's the gap Purr is built to close.
*Returns based on aggregated resale data from major platforms, 2021–2026. Past performance does not guarantee future results. Luxury goods are illiquid assets and should not be considered a substitute for diversified financial investments.
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